As illustrated above, this very classic pattern comes after AMZN failed to break out above its 200-day MA last week. A break of the neckline at $1612 measures down to $1512 for a 100 point sell-off.
It should be noted that AMZN reports on Thursday January 31st after the close so risk mitigation should be used. It is possible given all of the (and the Fed this week) that we see this play out before they report!
Short AMZN on a break of the neckline at $1612